March 27, 2023,188bet app download Group (NASDAQ: HTHT；HK: 01179) releases fourth quarter and full-year results of 2022。Financial report display，Full-year revenue in 2022 is 13.9 billion yuan，Year-on-year growth of 8.4%，Turnover reaches 49.6 billion yuan，9 year-on-year increase.3%。Excluding non-cash exchange rate losses and impairment effects，188bet app download Group’s adjusted EBITDA in 2022 is 17.400 million yuan。

With the changes in epidemic prevention and control policies during the cycle，188bet app download Group’s revenue in the fourth quarter of 2022 is 3.7 billion yuan，10 year-on-year increase.7%；188bet app download China’s mixed RevPAR (revenue per available room) showed a trend of increasing month by month in the fourth quarter，October 2022、RevPAR for November and December has recovered to 74% of the corresponding 2019 levels、87% and 91%，Hotel development momentum is activated again。

Overseas Deutsche Hotels Group (hereinafter referred to as: DH) has strong growth momentum，Full-year 2022 hybrid RevPAR growth of 96% year-on-year.2%；Led by the recovery of Steigenberger hotels in Qatar and Egypt，Fourth quarter hybrid RevPAR returned to 110% of 2019 levels。

Jin Hui, CEO of 188bet app download Group, said: “188bet app download has faced huge difficulties and challenges brought by the epidemic in the past year，Still showing strong resilience。Entering the post-epidemic era，We will adhere to the lean growth strategy。Continue to rapidly expand the hotel network，Especially in areas with low penetration rate。Further develop mid- to high-end and high-end brands through multi-brand strategy。Further strengthen operating capabilities to achieve higher efficiency，And provide better products and services to our customers and franchisees”。

Supply-side reform promotes high-quality development，Meet customers’ needs for a better life

The report of the 20th National Congress of the Communist Party of China pointed out: “High-quality development is the primary task of comprehensively building a modern socialist country。”Under the new development concept，188bet app download Group takes lean growth as its direction，Strive to improve the quality of products and services in the hotel industry，Optimization from the supply side perspective，Achieve high-quality development，To meet people’s growing needs for a better life。

From the perspective of product supply，188bet app download has been promoting low-quality economical soft brand hotels and Hanting 1.0 Product transformation and upgrade。Low-quality economical soft brands and Hanting 1 in 2020.The proportion of version 0 stores in the company is 25.9%，This ratio has dropped to 13 by 2022.4%。Meanwhile，188bet app download is also promoting the continued expansion of its hotel network focusing on limited services，The Yihan Court was formed、All seasons are the core，Hello、Orange is a complementary main brand echelon。The main brands will continue to improve in the future，To further match the needs of consumers in sinking markets。

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From a service quality perspective，188bet app download Group achieved fruitful breakthroughs in customer satisfaction work in 2022。Measured by the average score of all hotels in customer reviews on OTA websites，Customer satisfaction of all 188bet app download brands from 4 in 2020.54 points increased to 4 in 2022.71 points，Dissatisfaction increased from 1 in 2020.21% reduced to 0.63%。

High-quality development enhances 188bet app download Group’s competitiveness in seizing the opportunity period of recovery after the epidemic，It also brings more recognition to consumers。

Deeply explore China’s sinking market，Anchor mid-to-high-end brands to improve quality

In this year’s government work report，“Focus on expanding domestic demand”Ranked first among the eight major tasks，Consumption has become an important driving force in stimulating economic growth，Especially in the sinking market of county economy，Urgent need to unleash consumption potential，Promote economic growth。

188bet app download firmly cultivates China’s line，Develop the sinking market，Enter the economic cycle。As of December 31, 2022，188bet app download operates 8 hotels worldwide,543 families，Hotel to be opened 2,580；188bet app download China has 8 hotels in operation,411，Hotel to be opened 2,544。In third-tier and below cities，Accounting for 38% of operating hotels，57% of hotels in preparation，188bet app download has achieved coverage in 1126 cities。

In order to get closer to the local market，Realize localized management，188bet app download completed organizational upgrade in 2022，Six regional branches were established，Lay a solid organizational foundation for full market penetration and high-quality operations in the future。

The downsizing of the organization has also led to the further deepening of the layout of mid- to high-end hotels in 188bet app download。Development of mid- to high-end brands，188bet app download still seizes the market with its multi-brand strategy，Already owns Crystal Orange、Intercity、Beautiful、Manxin、Huange、Meilun、Eight brands including Mercure and Novotel。

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Comprehensive upgrade of 188bet app download Club，Leading the hotel industry’s digital economy to release new vitality

Digital economy is the innovative driving force for high-quality economic development in our country，Also represents the future direction of industrial development。

Relying on 188bet app download Club’s strong membership and traffic，188bet app download can further tap its potential，Continuous improvement and upgrade in various aspects such as membership rights。In 2022, 188bet app download Club, the member management system of 188bet app download Group, will be upgraded again to 4.0，Members can pass 188bet app download Club 4.0Easy implementation of smart laundry、Remote appointment、Real-time management of laundry status, etc.，The digital system with a richer sense of scene and use value brings consumers a convenient experience，The current proportion of online services has increased from 21% in 2021 to 71% in 2022。At the same time，188bet app download continues to adopt digitalization、Intelligent management tools empower business，Further reduced the ratio of people to rooms in operation，Improve management efficiency，Effectively achieved cost reduction and efficiency increase。

Winter is gone and spring is coming，188bet app download Group’s lean growth strategy maintains its stability to the greatest extent through cycles，Let 188bet app download focus on core business development，Seize the opportunity during recovery，Be prepared、Confidence to embrace the promising future of the hotel industry。